General Bond Requirements
Materials to Get Started
Here is a comprehensive list of the kinds of things we need from you in order to compile a quality bonding package for your company. While we realize that this appears to be an extensive list, these items will help us better understand your situation and tailor the Bond to your company’s needs. Please review this list and supply us with what you have available:
- A copy of the last 3-5 Year End Company Financial Statements. CPA-prepared statements are preferred, but your in-house figures might work as well. This should include all related, subsidiary, parent, or affiliated companies
- A copy of the most recent company Interim Financial Statement along with an interim statement for the same period last year if it’s available
- A completed Contractor Questionnaire Form
- A copy of the most recent job backlog or Work on Hand Report with an estimated cost of complete figures on all open projects
- A current Personal Financial Statement on the owner(s) of the company or any other individuals providing personal indemnity
- If there is an active Buy Sell Agreement between owners or a written management Succession Plan, a copy would be helpful but not necessary
- A letter from your banker indicating the size of the credit line your company has and an estimate of the current outstanding balance. However, if your business does not have an open credit line, there is no need to establish one at this point
- If your company has any positive feedback letters or performance awards from owners, general contractors, or if available, a copy of company brochures or marketing literature
- Other associations, we would appreciate a copy for our file. This can be impressive documentation for the bonding company
We realize this appears to be an onerous list. However, your help in gathering good information will help ensure our ability to provide you with the best bonding facility possible.
E-mail our bond staff at firstname.lastname@example.org for more information.